The two-level, 1.1-million-square-foot (100,000 m2) structure was built in 1981 and was located on the western side of North Central Expressway (US 75) near President George Bush Turnpike.

[5] At opening, the mall's center court included a 300-foot (91 m) indoor creek with a waterfall, fountains, and shrubbery.

Surrounding the creek was The Village Walk, an 18,000-square-foot (1,700 m2) section of smaller, locally-owned shops,[6] as well as The Patio, a food court.

[14] In 2014, Rouse designated Collin Creek as a "special consideration asset", which signaled that the mall might be foreclosed.

[28] In December 2007, Collin Creek management announced the beginning of construction for Amazing Jake's Food and Fun, a family entertainment center and buffet restaurant, in the former Mervyn's space.

[32] The store was a prototype for a major repositioning by JCPenney, which moved the chain's focus to contemporary fashion, leisure, and home furnishings.

[39] Initial plans for the mall's redevelopment called for the mosaics to be preserved, but this was abandoned when it was discovered that they contained asbestos.

[42] However, the plan fell through due to a conflict between Dreien and its lender which caused the company's purchase agreements to expire.

[17] Centurion American offered a similar redevelopment proposal, which consisted of a residential district, two office buildings, a hotel, a concert venue, an underground parking garage, and several restaurants.

[44] Unlike Dreien's proposal, Centurion American's would preserve both wings of the mall, but it did not include a water feature.

[45] The development included a municipal project to install a sanitary sewer and to reinforce the culverts carrying Spring Creek.

[4][46] As of July 2024[update], the project's infrastructure is complete, two apartment buildings have started construction,[47] and single-family residences are expected to be available by the end of the year.